Coverage for the $21 billion reopening of the 10-year June issue is on the low side at 3.09. The auction, stopping out at 3.119 percent, shows a 1-1/2 basis point tail. Buyside demand is no more than moderate with direct and indirect bidders taking down 52 percent of the auction, in line with the long term trend but down from the recent trend. Demand for Treasuries is easing following the results.
The chart below shows that the Total Amount for 2009 is identical to the amount of the auction in January 2010. The amount with the annual reports is the average for monthly auctions in the year. The monthly reports are showing the monthly auction amounts.